Global Wealth Summit 2026: India played hardball in US trade talks, Washington did not see it coming, says Signum Global’s Charles Myers

Tariffs on India were lowered, but negotiations over a wider trade agreement have become more complicated, strategist says.

• India's firm stance surprises US in trade talks
• India tariffs reduced, broader trade deal delayed
• US-India relations stay strong despite complex talks and differences

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India took a tougher-than-expected stance in trade negotiations with the United States, even as tariffs were lowered, complicating progress toward a broader bilateral trade agreement, according to Charles Myers, Chairman and Founder of Signum Global Advisors.

Speaking at the Moneycontrol Global Wealth Summit, Myers said India’s negotiating approach surprised policymakers in Washington, particularly as expectations had earlier been set for a relatively quick agreement.

“India really played hardball in the US trade deal. That was a surprise to Washington,” Myers said.

He noted that while tariffs on India were reduced, the broader trade agreement between the two countries has faced delays and complexities.

“Tariffs on India were lowered, but the broader trade agreement has been delayed and complicated,” Myers said.

Expectations of an early deal

Myers said that about a year ago, during the IMF meetings, US Treasury Secretary Scott Bessent indicated at a JP Morgan conference that India could be the first country to finalise a trade deal with Washington.

However, negotiations have since proved more difficult than initially expected.

According to Myers, India chose to take a firm negotiating position rather than quickly accepting US demands.

“India took a firm negotiating stance on trade, rather than conceding quickly as some other countries did.”

Bilateral ties remain complex

Myers said the broader US–India relationship has historically been complex and has become even more complicated in the current political environment.

“On the US–India bilateral, I would say it’s very complicated. I think it’s always been complicated by the way, it’s just that under President Trump, it’s a little more complicated.”

He also pointed out that India’s diplomatic posture on the Ukraine war has differed from what Washington might have preferred.

“India consistently has not taken the United States side in the war in Ukraine and has remained more neutral than Washington anticipated.”

Despite these differences, Myers said the underlying relationship between the two countries remains strong, particularly given the bipartisan support in Washington and the significant economic ties between the two economies.

“The US–India relationship is very bipartisan. We have always had good relations with India. It’s a very important country globally.”